Guideline Value for VGN MUGAVARI PHASE-II

Vgn Mugavari Phase-II guideline value

The current guideline value of Vgn Mugavari Phase-II is Rs 8,250 per sq.ft, effective from 1 July 2024. This property is located in Tambaram village under the Tambaram Joint 1 SRO, classified as Mixed Type - I.

How the guideline value of Vgn Mugavari Phase-II has changed

The guideline value for Vgn Mugavari Phase-II has seen several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. The most recent revisions show an increase from Rs 7,500 per sq.ft in 2023 to Rs 8,250 per sq.ft in 2024, marking a 10% increase.

Prior to the 2023 revision, the last recorded figure was Rs 7,500 per sq.ft. This increase reflects the latest adjustments made to the guideline values in the region.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO, with guideline values for 2024 ranging from Rs 880 to Rs 8,250 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Vgn Mugavari Phase-II's current figure above that median.

• Vgn Mugavari Phase -I: Rs 5,500 per sq.ft (2024)
• Vgn Meyfield Park: Rs 8,250 per sq.ft (2024)
• Vgn Melrose Gardens Extension: Rs 8,250 per sq.ft (2024)
• Vgn Melrose Gardens: Rs 8,250 per sq.ft (2024)
• Vgn Mayfield Park Extension: Rs 8,250 per sq.ft (2024)
• Vgn Trinity Gardens: Rs 8,250 per sq.ft (2024)

Stamp duty and registration fee for property in Vgn Mugavari Phase-II

For a 1,000 sq.ft plot at the current guideline value of Rs 8,250 per sq.ft, the total guideline value amounts to Rs 82,50,000. The stamp duty at 7% would be Rs 5,77,500, and the registration fee at 2% would be Rs 1,65,000, leading to a total of Rs 7,42,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vgn Mugavari Phase-II?

The Vgn Mugavari Phase-II property falls under the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Tambaram

The guideline value is a crucial factor during the registration of property transactions in Tambaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When purchasing a property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency and accountability in real estate dealings.

Frequently asked questions

What is the current guideline value of Vgn Mugavari Phase-II?

The current guideline value of Vgn Mugavari Phase-II is Rs 8,250 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 7,500 per sq.ft in 2023 to Rs 8,250 per sq.ft in 2024, which is a 10% increase.

What is the median guideline value in Tambaram?

The median guideline value for streets in Tambaram is Rs 3,300 per sq.ft, making the value of Vgn Mugavari Phase-II above this median.

What are the stamp duty and registration fees for a property in Vgn Mugavari Phase-II?

For a 1,000 sq.ft plot, the total guideline value is Rs 82,50,000. The stamp duty at 7% would be Rs 5,77,500, and the registration fee at 2% would be Rs 1,65,000, totaling Rs 7,42,500.

Which office handles registrations for Vgn Mugavari Phase-II?

The Tambaram Joint 1 Sub Registrar Office handles registrations for Vgn Mugavari Phase-II, located at No.26, Mes Road, East Tambaram, Chennai-600059.